How U.S. economic strength caused GDP to decline in Q1 🤯
The U.S. imported much more than it exported to its weaker trading partners 📈
Beware the gloomy headlines about U.S. GDP.
However, this negative number belies the relative strength of the U.S. economy.
The whole story can be explained by a single stat: Net exports subtracted 3.2 percentage points from GDP.